Do You Have Senior Citizens At Home? This Government Scheme May Help Them Get Rs 10,000 Pension; Know More

Do you have senior citizens in your house? You can arrange a monthly pension of up to Rs 10,000 for them. For this, you can invest a lump sum in the Pradhan Mantri Vaya Vandana Yojana (pmvvy) launched by the Central Government. The central government has extended the deadline of this scheme till March 31, 2023.

Applications for this scheme can be made by visiting the official website of Prime Minister Vay Vandana Yojana and Life Insurance Corporation of India. You have to fill an application form, in which all the necessary information has to be given. Some certificates have to be submitted along with the application form. Senior citizens can apply online under this scheme.

These documents will be required

Copy of PAN card of applicant, Aadhar card or passport copy to show home address, copy of first page of passbook.

Benefit of the scheme

Senior citizens will get pension for ten years continuously. This pension will be given at a rate and it will be guaranteed.

Under this scheme, you can take pension on monthly, quarterly, half-yearly or even yearly basis, the term of this policy is for a maximum period of ten years.

After ten years, along with the final payment of pension, the deposit is also returned.

Tax exemption is not available on this plan.

Under this scheme you can invest 15 lakh rupees, besides senior citizens of 60 years or more can also invest in it.

The minimum pension will be one thousand rupees, while the maximum pension will be Rs 10,000.

Death benefit is also available under the scheme. Under this, the amount is returned to the nominee and it gets a fixed return of eight percent.